In a major development shaking the Pakistan Super League (PSL), an arbitration tribunal has ruled in favor of Fawad Ahmed Rana, the founder and former owner of the Lahore Qalandars franchise, in a bitter family dispute over ownership control.
The ruling, issued on January 21, 2026, by retired Justice Maqbool Baqer, declares the transfer of majority shares in Kausar Rana Resources (Pvt) Limited (KRR)—the parent company holding the Lahore Qalandars franchise—to Fawad’s younger brothers, Atif Rana and Sameen Rana, as legally void and unauthorized.
The dispute dates back to around 2020, when Fawad Rana, Managing Director of Qatar Lubricants Company (QALCO), allegedly transferred shares to make Atif the majority holder.
This move was purportedly motivated by geopolitical tensions, as the UAE had severed ties with Qatar, complicating QALCO’s involvement in UAE-based activities related to the PSL. However, Fawad and QALCO claimed the transfers were fraudulent, fabricated, and lacked proper authorization.
Evidence presented included Fawad’s travel history and passport records proving he was not in Pakistan when the disputed share transfer deeds were supposedly signed.
The arbitration process followed prolonged litigation through the Lahore High Court and Supreme Court of Pakistan, which emphasized pro-arbitration policies and alternative dispute resolution to ease court burdens.
The tribunal found critical flaws in the respondents’ case, invalidating the share transfers and siding with Fawad Rana’s position.
Under the award, Atif and Sameen Rana have been ordered to either return the 51% majority shareholding in KRR to QALCO (effectively restoring control to Fawad Rana) or pay QALCO Rs 2.296 billion (approximately $8.2 million), plus markup dating back to June 2020. With accumulated interest, the total liability could exceed Rs 3 billion. The payment or share return must occur within 45 days of the ruling.
This decision comes at a critical juncture for the Lahore Qalandars, just ahead of preparations for PSL Season 11 in 2026, including player auctions and team planning. The franchise, one of the PSL’s most popular teams, has faced uncertainty amid the ongoing family feud.
Fawad Rana, widely credited with building the Qalandars’ brand and early success, has been absent from management in recent years while his brothers handled operations.
Reactions from the cricket community have been swift, with many fans expressing excitement over the prospect of Fawad’s return, often referring to him as the “king” who elevated the team’s profile. The current management has indicated plans to appeal the arbitration award, signaling the dispute may not end here.
The ruling underscores the complexities of family-run businesses in high-stakes sports franchises and could lead to significant changes in the Lahore Qalandars’ direction. Stakeholders await whether the Rana brothers will comply, pay the substantial sum, or pursue further legal avenues, all while the PSL season looms.